Fed has yet to set target on inflation

According to this article from The New York Times, published Tuesday 30 January, as Ben Bernanke celebrates his first anniversary as Fed chairman, the US central bank is still far away from acting on his major proposal.

"Mr. Bernanke has long argued that publicly committing the central bank to an inflation target - probably 1 to 2 percent a year - would make its policy more transparent and open to the public," the article says.

"There's just not a lot of enthusiasm for moving in any of these

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